Marketing Quizzes

Marketing research includes all of the following

- analyzing data - recording data. - interpreting data. - collecting data.

According to the text, 14 cable companies agreed to provide low-cost Internet access to impoverished families for all of the following reasons:

- increased access to faster broadband capabilities. - pressures from the Federal Communications Commission. - the economic status of consumers. - calls for greater social responsibility.

All of the following are typical channels used by retailers

- internet, restaurants and hotels, stores, catalogs

Nearly what percentage of U.S. adults now recycle their soda bottles and newspapers?

50%

Convenience for the customer is seldom a factor for manufacturers when choosing a retail partner

False

A company's product line consists of its various product mixes.

False the product mix consists of product lines

One of the key characteristics of brainstorming sessions is that bad ideas should be immediately rejected so the group can focus its attention on good ideas.

False! No idea should be immediately rejected or accepted

On the diffusion of innovation curve, the first group of buyers who want to be the first on the block to have the new product are known as early adopters.

False, early adopters are the second group of adopters of an innovation; innovators are first

Product penetration is one of the four major growth strategies

False; 4 major strategies: market penetration, product development, market development, diversification

A product label is just a required sticker on a package.

False; its much more

Data that have been collected prior to the start of the current research project are considered primary data

False; that is secondary data, can be external and internal data sources

When analyzing the immediate environment and the macroenvironment, marketers must be careful to keep the firm at the center of all analyses.

False; the consumer should be at the center

Which of the following is true about quantitative research?

It confirms insights and hypotheses generated via qualitative research

To build relationships, firms focus on the ________ of the relationship, not how much money is made during each transaction.

Lifetime profitability

The marketing goal of getting the "right quantities to the right locations, at the right time" relates to

Managing the supply chain; Supply chain management is the set of approaches and techniques that firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and other firms involved in the transaction (e.g., transportation companies) into a seamless value chain in which merchandise is produced and distributed in the right quantities, to the right locations, and at the right time, while minimizing systemwide costs and satisfying the service levels required by the customers.

________ offer an inconsistent assortment of brand-name merchandise at low prices.

Off-price retailers

Internet sites, physical stores, and kiosks are most closely associated with which element of the marketing mix?

Place; Represents all the activities necessary to get the product to the right customer when the customer wants it.

________ represents all the activities necessary to get the product to the right customer when that customer wants it

Place; represents all the activities necessary to get the product to the right customer when that customer wants it.

Which element of the marketing mix deals with supply chain management?

Place; represents all the activities necessary to get the product to the right customer when the customer wants it

In a retail supply chain, the ________ records the purchase information and electronically sends it to the corporate office.

Point of Sale (POS) terminal

All of the following are benefits of new product development to a firm:

Satisfying the changing needs of current and new customers, keeping up in a market with short product life cycles where sales come mostly from new products, avoiding market saturation, creating diversification and reducing risk

For products like pencils and paper clips, marketers should probably use an undifferentiated targeting strategy

True

One of the benefits of marketing research that it reduces the uncertainty under which managers make decisions

True

Culture can broadly be defined as the shared meanings, beliefs, morals, values, and customs of a group of people.

True!

Effective packaging and labels send consumers the signal "Buy me!"

True!

The marketing firm must consider the entire business process, all from a consumer's point of view.

True!

Firms become value driven, in part, by focusing on the competition

True; Firms become value driven by sharing information about their customers and competitors across their own organization and with other firms that help them get the product or service to the marketplace, such as manufacturers and transportation companies

Firms have come to realize that good corporate citizenship through socially responsible actions should be a priority because it will help their bottom line in the long run

True; Socially responsible firms recognize that including a strong social orientation in business is a sound strategy that is in both its own and its customers' best interest. It shows consumers that the firm will be around for the long run and can be trusted with their business.

Supply chain management is the set of approaches and techniques that firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and other firms involved in the transaction into a seamless value chain in which merchandise is produced and distributed in the right quantities, to the right locations, and at the right time

True; is the set of approaches and techniques that firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and other firms involved in the transaction (e.g., transportation companies) into a seamless value chain in which merchandise is produced and distributed in the right quantities, to the right locations, and at the right time, while minimizing systemwide costs and satisfying the service levels required by the customers.

Strong supplier relations and efficient supply chains help firms such as Walmart achieve operational excellence

True; operational excellence is achieved through efficient operations and excellent supply chain and HR

A(n) ________ is a 13-digit code retailers can use to track inventory

UPC (universal product code)

Supercenters are large stores that combine a supermarket with a full-line discount store. ________ dominates this category with the vast majority of supercenters in the United States.

Walmart

Retailing is defined as the set of business activities that

add value to products and services sold to consumers for their personal or family use

Brands can be owned by

any firm in the supply chain

If many consumers in the marketplace are familiar with a brand and what it stands for and have an opinion about the brand, the brand has considerable

awareness

Suppose that you work for an advertising agency and are brought into a meeting where everyone is asked to generate ideas for names for a new beach resort. You are engaged in ________, a form of new idea generation.

brainstorming

When a company launches a new product line with an existing brand name, this is known as

brand extension

Four frequently used targeting strategies are the micromarketing, undifferentiated, differentiated, and ________ targeting strategies

concentrated

Every time a consumer surfs the web and clicks on a site, online marketers can place ________ on that user's computer, showing them where the user starts, proceeds, and ends the online encounter—as well as what the user buys and doesn't buy.

cookies

In a ________ distribution center, merchandise moves from vendors' trucks to retailers' delivery trucks in a matter of hours.

cross-docking

The shared meanings, beliefs, morals, values, and customs of a group of people constitute their

culture

The process by which the use of a new product or service spreads throughout a market group is referred to as

diffusion of innovation; generally follows a bell shaped curve

Having no intermediaries between the buyer and seller is a defining characteristic of a(n) ________ marketing channel.

direct

A ________ is a facility for the receipt, storage, and redistribution of goods to company stores.

distribution center

The first step in the STP process is to

establish the overall strategy or objectives

One of the potential benefits to a firm of introducing new-to-the-world products or services is

establishment of a completely new market.

Higher-income consumers visiting ________ feel like they are on a treasure hunt, searching for a bargain.

extreme value retailers

________ offer a limited assortment of general merchandise at very low prices.

extreme-value retailers

The components of a SWOT analysis are strengths, weaknesses, opportunities, and tactics.

false, strengths, weaknesses, opportunities, and threats.

To build a sustainable competitive advantage, companies should focus on a single strategy.

false; firms require multiple approaches to build a "wall" around their position that stands as high as possible

When Walmart threatens to punish or punishes the other channel member for not undertaking certain tasks, such as if it were to delay payment for a late delivery, this is an example of expertise power.

false; this is coercive power; when a firm threatens to punish a channel member for not doing certain tasks

Retailers that offer a broad variety of merchandise, limited services, and low prices are known as

full-line discount stores

Differences in weather and climate create opportunities for

geographic segmentation

Strategic efforts to supply consumers with environmentally friendly merchandise are called

green marketing

The decision to delete a product is never taken lightly because, generally, manufacturers

have made substantial investments in product development and manufacturing.

Within a perceptual map, a(n) ________ represents where a particular market segment's desired product would lie.

ideal point

When marketers use a variety of communication disciplines—advertising, personal selling, sales promotion, public relations, direct marketing, and online marketing including social media—in combination to communicate a value proposition to the customer, it is referred to as

integrated marketing communications; represents Promotion in the four Ps

The difference between a firm's immediate marketing environment and its macroenvironment is that the macroenvironment

is external

Students of marketing often overlook or underestimate the importance of place in the marketing mix simply because

it happens behind the scenes

Firms use a differentiated targeting strategy because

it helps obtain a bigger share of the market

A major advantage of primary data collection is

it offers behavioral insights generally not available from secondary research

A major disadvantage of primary data collection is

it requires more sophisticated training and experience to design the study and collect data

In the past, ________ controlled supply chains.

manufacturers

A ________ growth strategy employs the existing marketing offering to reach new market segments.

market development

All of the following are considered qualitative research

observation, in-depth interviews, social media, focus groups

Where on a product's packaging would one most likely find nutrient content and country of origin?

on the label

For new product marketers, early adopters are important because they tend to be

opinion leaders

Effective promotion enhances a product or service's

perceived value; effective promotion communicates value by attempting to ensure that customers understand the value being offered.

A ________ is often used to illustrate the position of a firm's products or brands in consumers' minds.

perceptual map

In the product development process, what takes place between concept testing and market testing?

performing product development

A(n) ________ is a document used by a forklift driver indicating how much of each item to get from specific storage areas

pink ticket

The Eiger Labs MPMan was the first mass-produced MP3 player sold in the United States. Eiger Labs was a(n) ________ in the MP3 player market.

pioneer

A toothpaste tube is an example of a ________ package

primary

All of the following are considered part of the "actual product" level of the product offer except

product warranty; actual product is made up of the brand name, quality level, packaging, and features and design

primary point of marketing research

provide information on which to base decision making.

VALS is the most widely used ________ segmentation tool.

pyschographic

A product that is in a high-growth market but has a low market share would be classified as a ________ on the BCG matrix.

question mark

A marketing research project often begins with a review of the relevant ________ data.

secondary

Company sales invoices, census data, and trade association statistics are examples of

secondary data

Commercial research firms such as IRI, the National Purchase Diary Panel, and Nielsen are sources of

syndicated data - secondary data that can be purchased from firms that collect it

When referring to "exchange," marketers are focusing on

the trading of things of value; each party giving and getting something in return

Which of the following defines a value proposition?

the unique value that a product or service provides to customers

Getting merchandise floor-ready entails

ticketing and marking

It is not always necessary to go through all the steps in the marketing planning process.

true

It is primarily the retailer's responsibility to make sure customers' expectations are fulfilled

true

It would be logical for bathing suit marketers to use geographic segmentation.

true

Marketing channel management adds value because it gets products to customers efficiently, quickly, and at low cost.

true

Parties that work with the focal firm are its corporate partners.

true

Failure rate for new products is high

true!

Relative market share is an example of a marketing metric.

true; evaluated firm's performance vs competitors